Research On Marketing Strategy In Chengdu Rural Commercial Bank

Banking industry in China is entering a new stage along with the completion of joint-stock system reform within the "big four" wholly state-owned commercial banks. The self-financing system in the state-owned banks intensify gradual competition among financial industry. Therefore, marketing will play a more and more crucial role in the following business activities. Chengdu, as a main economic center in the west part of China, now has gathered all kinds of banks including various foreign-funded banks, the five state-owned joint-stock commercial banks, nearly30national joint-stock commercial banks, city commercial banks, credit cooperatives and so on. Chengdu Rural Commercial Bank, developed from rural credit cooperative, using Chengdu Agriculture and Commerce Bank as an example and applying marketing theory and concepts and tools in financial theory, analyzes the internal and the external surroundings of Chengdu Rural Commercial Bank and the bank’s corresponding marketing strategies and provides suggestions for the bank’s future marketing strategies which might suggest lessons to similar city commercial banks.First of all, this paper, starting from topic, meaning, innovation and defects, introduces the general information, defines concept of marketing and theoretical basis and explain evolution process of marketing strategy of world’s bank in details which becomes theoretical basis of the whole paper. Then, it introduces four marketing strategies of banks including product strategy, price strategy, distribution strategy and promotion strategy and analyzes advantages, disadvantages and adaptation of these strategies separately. At the same time, this paper also speculates the future financial pattern and marketing mode and puts forward adaptability suggestions on modern marketing strategies according to future evolution mode. Then, using Chengdu Agriculture and Commerce Bank as an example again, the paper discusses the fundamental management and marketing and starting from environmental opportunity, environmental threat, self advantages and disadvantages, states respectively different kinds of management advantages, disadvantages and opportunities faced by Chengdu Agriculture and Commerce Bank. Among them, Environmental opportunity includes the economic take-off in Chengdu and the remainder areas in Sichuan province, strong supporting from government’s policy, the increasing fund requirement in middle and small-sized enterprises and customer’s demand in diversifying financial services. Environmental threat means various finance institutions’ swarming into Chengdu, interest rate liberalization, the severization in financial regulation, private capital being active and challenges brought by new technological revolution. Self advantages include large amounts of nodes, trust from local consumers and quick responding to market. Self disadvantages contain the problems of former remaining staff and asset, limits on scope of services and passive strategy of market adoption. In the future market competition, Chengdu Agriculture and Commerce Bank should emphasize on its specialty in "three rural" products and serving the middle and small-sized enterprises and at the same time, guided by market competitive strategy, renovating star product accepted by markets rapidly to expend market share. At last, the paper put forwards some suggestions to ensure the successful implementing of marketing strategy in Chengdu Agriculture and Commerce Bank. Starting from the external part, these suggestions cover the aspects of the stable politics, economics, law environment and highly qualified people. While, starting from the internal part, it emphasizes establishing scientific and suitable marketing policy and detailed strategies combining with efficient organization and continuous highly-competent people. Suggestions on both external and internal part can guarantee the successful implementation of its marketing strategy.Studying and analyzing the external environment and inside situation and formulating suitable strategies for Chengdu Rural Commercial Bank is important for the bank to keep its current market share and make a further successful development on marketing. Only efficient and suitable marketing strategy can help to improve turnover, improve competitive advantage and gain more popularity. Nowadays, competition is becoming fiercer, thus marketing strategy plays a more and more important role for every competing individuals. The research conclusion of this paper has some guiding significance on optimizing and developing future marketing strategy in Chengdu Agriculture and Commerce Bank as well as similar city commercial banks.